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    Woodside completes Pluto Train 2 sell down

Summary

The estimated capital expenditure for the development of Pluto Train 2 is $5.6bn.

by: Shardul Sharma

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Woodside completes Pluto Train 2 sell down

Woodside has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP), it said on January 18. The deal was announced in November last year.

Pluto Train 2 is a key component of the Scarborough development and includes a new LNG train and domestic gas facilities to be constructed at the existing Pluto LNG onshore facility. The estimated capital expenditure for the development of Pluto Train 2 is $5.6bn.

The joint venture arrangements require GIP to fund its 49% share of capital expenditure and an additional amount of construction capital expenditure of approximately $822mn. Woodside’s capital expenditure will be reduced accordingly.

The first LNG cargo from Pluto Train 2 is targeted for 2026. The final investment decision on the Pluto Train 2 and Scarborough development was announced in November.